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The number cruncher’s blog

Jordan Empey, CPA, Tax Partner

New Stimulus Package Passed Dec. 21, 2020

The U.S. House of Representatives and U.S. Senate passed the Consolidated Appropriations Act, 2021 (bill), a massive tax, funding, and spending bill that contains a nearly $900 billion coronavirus aid package.

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Doreen Merz, CPA, Senior Tax Manager

5 Tips to Simplify Tax Time

April 15 always seems to sneak up, and surely this year will be no different. While there is no escaping the tax deadline, use the following tips to streamline the tax return process and minimize stress.

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Jordan Empey, CPA, Tax Partner

Forgiveness of PPP Loans May Reduce R&D Credit

The forgivable loan program known as the Paycheck Protection Program (PPP) was established by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide financial resources to small and mid-size businesses to enable them to maintain payroll and cover certain expenses during the coronavirus pandemic.

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Jordan Empey, CPA, Tax Partner

Loan Necessity Questionnaire for PPP Borrowers with Loans Over $2M

Small Business Administration (SBA) announced in an updated FAQ on the program that it will be auditing all Paycheck Protection Program (PPP) loans of $2 million or more. Borrowers whose loans meet this threshold amount might receive a Loan Necessity Questionnaire from their lender soon after they apply for loan forgiveness.

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Jordan Empey, CPA, Tax Partner

2020 Tax Planning Paradox

THE 2020 TAX PLANNING PARADOX – ACCELERATE INCOME TO LOWER YOUR TOTAL TAX LIABILITY   As 2020 winds down, it’s time to consider year-end planning.

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IRS Addresses the President’s Executive Order on Employee Payroll Tax Deferral

On August 28, 2020, the IRS issued Notice 2020-65 that provides some needed guidance for employers wondering whether and how to comply with the employee payroll tax deferral described in the August 8, 2020 Presidential memorandum (often referred to as an “executive order.”). Even though the Notice leaves many questions unanswered, it addresses some key items.

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Marjorie Noleen

SKR+CO Hires New Audit Partner

Stockman Kast Ryan + Co, LLP (SKR+CO), the largest locally-owned certified public accounting firm in Southern Colorado, welcomes Brian Tunnelle, CPA (CA) as the tenth

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Ann Koenigsman, CPA, CTFA, Tax Partner

Family Wealth Planning in a Time of Uncertainty

The full impact of COVID-19 is unknown. While we wait for questions to be answered many are asking what can we do right now? What’s next for our families? What’s next for family businesses and the people who work for them? Planning for our future generations is the greatest gift we can give, particularly during times of uncertainty.

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More Flexibility for PPP Loan Forgiveness and Payroll Tax Deferral

The Paycheck Protection Program Flexibility Act of 2020 (H.R. 7010) (PPP Flexibility Act), enacted on June 5, 2020, makes welcome changes to the forgiveness rules for Paycheck Protection Program (PPP) loans made to small businesses in response to the novel coronavirus global pandemic (COVID-19). The PPP Flexibility Act greatly increases the likelihood that a large percentage of a borrower’s PPP loan will be forgiven.

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Nonprofits and COVID-19

In a Notice 2020-66 the IRS has extended more tax deadlines to cover individuals, estates, corporations and others. This extension includes a variety of tax form

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Judy Kaltenbacher, CPA, Tax Partner

CARES Act Provider Relief Fund

President Trump is providing support to healthcare providers fighting the COVID-19 pandemic. On March 27, 2020, the President signed the bipartisan CARES Act that provides

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Marjorie Noleen

Coronavirus Updates

UPDATED 3/19/20, 10:30 a.m. IRS Updates on Tax Payments **Please note: we are planning a client webinar for early next week to explain how the

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